Under the agreement, MYOB will be the first accounting software company in Australia to receive bank feeds directly from American Express. This means the transactions for MYOB partners and clients who transact with American Express using a proprietary personal or small business card will directly feed into MYOB’s cloud accounting software as well as BankLink Practice.
Andrew Birch, general manager of industry solutions, MYOB, said the company is delighted to add American Express to MYOB’s list of direct credit and charge card feeds.
“This industry first integration with American Express, really solidifies our position as the accounting software provider with the best coverage of bank feeds. What this means is that we’re able to further reduce administration duties for SMEs and their accountants and offer business owners the flexibility to focus on doing what they know best, and what they love.”
The agreement will expand the number of bank feeds that business owners can access, making business life easier by further reducing their time spent on financials.
For accountants, the integration means it will be easier to track client finances and ensure a higher level of accuracy when analysing and reporting on the data.
Martin Seward, vice president of American Express Small Business Services said the institution is very excited to partner with MYOB in this deal.
“American Express is constantly looking for ways to make doing business simpler for our customers."
“Through our new partnership with MYOB, our Card Members can now focus more time on growing their business and less time on manual processes associated with keeping their accounts in order.”
Available in the first quarter of 2016, American Express will offer a paperless sign-up process which will add to MYOB’s already growing list of paperless bank feed options.